NEW YORK (GenomeWeb News) – Molecular diagnostics company Sensigen said today it plans to use a loan at 1 percent interest from the Michigan Economic Development Corporation to expand its operations in Ann Arbor.
The company, which is developing diagnostic tests for human papillomavirus, chronic kidney disease, lupus, and other diseases, will use the money from the loan to hire workers that have been displaced by the closing of a Pfizer facility in Michigan.
The company’s molecular diagnostics technology, which combines mass spectrometry and PCR, was developed by University of Michigan researcher David Kurnit.
MEDC is a partnership between the State of Michigan and local communities that promote economic growth and development strategies.
Further terms of the loan agreement were not released.